Financial Results for FY2014 May 13, 2015

Recruit Holdings Co., Ltd.

Disclaimer

In preparing these materials, Recruit Holdings Co., Ltd. relies upon and assumes the accuracy and completeness of all available information. However, we make no representations or warranties of any kind, express or implied, about the completeness and accuracy. This presentation also contains forward-looking statements. Actual results, performance and achievements are subject to various risks and uncertainties. Accordingly, actual results may differ significantly from those expressed or implied by forward-looking statements. Readers are cautioned against placing undue reliance on forward-looking statements. Third parties are not permitted to use and/or disclose this document and the contents herein for any other purpose without the prior written consent of Recruit Holdings Co., Ltd.

(C) Recruit Holdings Co.,Ltd. All rights reserved.

1

Contents 1. FY2014 Consolidated Financial Highlights I. Consolidated Earnings Summary II. Segment Net sales & EBITDA

2. FY2014 Earnings Results by Segments I. Marketing Media II. HR Media III. Staffing

3. FY2015 Full-year Forecast

I. Consolidated Earnings Forecast II. Key Initiatives

P.4 P.5 P.8 P.14 P.18 P.24 P.25

Appendix

Company Profile Business Segment & Major services Market Environment

(C) Recruit Holdings Co.,Ltd. All rights reserved.

2

1. FY2014 Consolidated Financial Highlights

(C) Recruit Holdings Co.,Ltd. All rights reserved.

3

1-(I) Consolidated Earnings Summary  Net sales grew 9.1% YoY to an all-time high  EBITDA increased 6.0% YoY despite ongoing investments to achieve medium-to-long term growth (JPY Bn)

FY2013 Full-year

FY2014 Full-year Forecast*3

(announced on May 14, 2014)

Full-year*4

YoY Change

1,191.5 180.6

1,290.0 191.0

1,299.9 191.4

+9.1% +6.0%

EBITDA margin

15.2%

14.8%

14.7%

-0.4pt

Operating income

117.4 122.0 65.4 101.4 －

121.0 126.0 66.0 103.0 47

122.4 125.6 69.7 107.5 47

+4.3% +2.9％ +6.5% +6.0% －

Net sales EBITDA*1

Ordinary income Net income Adjusted net income*2 Dividend per share（JPY）

*1：EBITDA = Operating income + Depreciation and amortization + Amortization of goodwill *2：Adjusted net income = Net income + Amortization of goodwill *3：Same as the forecast announced on October 16, 2014. Assuming exchange rate: JPY103.00/USD *4：Average exchange rate: JPY105.79/USD（Average exchange rate: JPY97.73/USD for FY2013）

(C) Recruit Holdings Co.,Ltd. All rights reserved.

4

1-(II) Segment Net sales & EBITDA Segment Net sales* (JPY Bn)

1,400 1,200 1,000 800

1,191.5 322.3 266.9

Consolidated (JPY Bn) Net sales +9.1% 1,299.9 180.6 Marketing 200 Media +3.4% 333.4 160 95.1 HR Media +13.4% 302.7 120

600 400 200 0 (200)

675.2

612.4

Segment EBITDA

Staffing +10.2%

80

73.6

40

34.7

Other

2.8 -13.0 FY2013 Full-year 2014年3⽉期 2Q累計実績

0 Reconciliation 2.0 -13.4 (40) FY2014 Full-year 2015年3⽉期 2Q累計実績

-11.5 -11.2 FY2013 Full-year 2014年3⽉期 2Q累計実績

191.4

96.2

78.0 40.7

Consolidated EBITDA +6.0%

Marketing Media +1.1%

HR Media +6.0% Staffing +17.2% Other

Reconciliation -11.2 -12.3 FY2014 Full-year 2015年3⽉期 2Q累計実績

*Segment Net sales includes net sales and transfers between segments (C) Recruit Holdings Co.,Ltd. All rights reserved.

5

2. FY2014 Earnings Results by Segments

(C) Recruit Holdings Co.,Ltd. All rights reserved.

6

2. FY2014 Earnings Results by Segments

(I)Marketing Media

(C) Recruit Holdings Co.,Ltd. All rights reserved.

7

2-(I) Marketing Media Net Sales & EBITDA  Net sales increased 3.4% YoY. While Life Event operations net sales remained stable, Lifestyle operations net sales trended favorably  EBITDA increased 1.1% YoY reflecting the increase in net sales (JPY Bn) 350

322.3

333.4

300 250 200

177.8

177.7

50 0 (50)

Life Event -0.0%

(JPY Bn) 120

EBITDA

100

+1.1%

80 60

150 100

Total +3.4%

Marketing Media EBITDA

144.7 0.1 -0.3 FY2013 Full-year

155.4 0.8 -0.5 FY2014 Full-year

Lifestyle +7.4%

40

Other

20

Reconciliation

0

*Segment Net sales includes net sales and transfers between segments (C) Recruit Holdings Co.,Ltd. All rights reserved.

95.1

96.2

2014年3⽉期 FY2013 第3四半期

2015年3⽉期 FY2014 第2四半期

Full-year

Full-year

8

2-(I) Marketing Media: Life Event Operations Life Event Net sales* （JPY Bn） 200

150

177.8

177.7

86.6

83.9

100

50

0

53.3

53.6

Total -0.0%

 Solid net sales

Housing and Real Estate -3.0% Bridal +0.6%

• Net sales trended sluggishly in the condominium apartment division reflecting the change of market environments, which negatively impacted the housing and real estate business. • Net sales trended solidly in the bridal business, owing in part to new store openings by major clients that operate wedding halls.

Other

37.8

40.1

-0.0 FY2013 Full-year

-0.0 FY2014 Full-year

Reconciliation

*Segment Net sales includes net sales and transfers between segments

(C) Recruit Holdings Co.,Ltd. All rights reserved.

9

2-(I) Marketing Media: Lifestyle Operations Lifestyle Net sales* （JPY Bn） 200

150

144.7 48.4

155.4 53.4

100

50

0

33.5

34.3

33.9

39.9

28.8 -0.1 FY2013 Full-year

27.8 -0.2 FY2014 Full-year

Total +7.4%

 Strong net sales

Travel +10.3% Dining +2.2% Beauty +17.6% Other

• The travel business trended favorably due to a rise in the unit price of hotels and other accommodations as well as an increase in the number of total users of our services (number of persons who stayed overnight). • The dining business was robust as we promoted strengthening of client contacts. • The beauty business trended favorably mainly due to an increase in business with new and existing clients.

Reconciliation

*Segment Net sales includes net sales and transfers between segments (C) Recruit Holdings Co.,Ltd. All rights reserved.

10

（Topics in Domestic Business） ■ Dining business

+6.93

■Beauty business

23.90

+8.84

million reservations

million users million users

FY2014 2015年3⽉期 Q3 YTD 2Q累計実績 No. of online

FY2014 2015年3⽉期 Full-year 3Q累計実績 reservations

HotPepper Gourmet*

FY2014 2014年3⽉期… Q3 YTD

30.04

million reservations

FY2014 2015年3⽉期… Full-year

No. of online reservations HotPepper Beauty*

*Based on number of reservation, cancels are not counted (C) Recruit Holdings Co.,Ltd. All rights reserved.

11

（Topics in Overseas Business）  Shifted to phase for full-fledged overseas development and acquired two companies that were converted into subsidiaries ・Acquisition of Quandoo, an European online restaurant reservation service provider ・Acquisition of Hotspring, an European online beauty reservation service provider Quandoo

Hotspring

Established

： November 2012

Established

： February 2008

Headquarters

：

Berlin (Germany)

Headquarters

： London (UK)

Net sales

：

€4.29million

Net sales

： ￡4.30million (FY2014)

EBITDA

： €-9.66million

EBITDA

：

￡-6.30million (FY2014)

Employees

： Appx. 250

Employees

：

Appx. 130

# of Locations

： 13 countries

# of Locations ： 5 countries Acquisition cost ：

Acquisition cost ： Acquisition price €198.6million

Acquisition price ￡112.5million

Advisory fees and other related costs ¥0.56billion

Advisory fees and other related costs ¥0.6billion

Date of execution of share acquisition： March 5, 2015

Date of execution of share acquisition ： May 1, 2015 *Sales and EBITDA for each company is the actual for FY2014

(C) Recruit Holdings Co.,Ltd. All rights reserved.

12

2. FY2014 Earnings Results by Segments

(II) HR Media

(C) Recruit Holdings Co.,Ltd. All rights reserved.

13

2-(II) HR Media Net sales & EBITDA Net sales increased 13.4% YoY owing to brisk domestic and overseas recruiting business EBITDA increased 6.0% YoY reflecting the increase in net sales HR Media EBITDA

HR Media Net sales

*

(JPY Bn) 350 300 250

302.7 266.9

200 150

226.5

239.8

100 50 0 (50)

Total +13.4%

24.9

16.3 -0.9 FY2013 Full-year

46.1 19.2 -2.4 FY2014 Full-year

Domestic Recruiting +5.9％ Overseas Recruiting +85.1% Other

Reconciliation

（JPY Bn） 100

EBITDA

+6.0%

80 60 40

73.6

78.0

FY2013 2014年3⽉期 3Q累計実績 Full-year

FY2014 2015年3⽉期 3Q累計実績 Full-year

20 0

*Segment Net sales includes net sales and transfers between segments

(C) Recruit Holdings Co.,Ltd. All rights reserved.

14

2-(II) HR Media: Domestic Recruiting Domestic Recruiting Net sales （JPY Bn）

+5.9%

250 200

• The ratio of job-offers to job-seekers and number of placed recruitment advertisement continued to improve.

 Strong net sales

150 100

 Favorable market environment

226.5

239.8

FY2013 Full-year

FY2014 Full-year

• Net sales trended favorably due in part to the enhancement of brand strength and the sales force. • In Q4, we booked net sales on products for new graduates recruitment for which the launch timing of services was changed.

50 0

(C) Recruit Holdings Co.,Ltd. All rights reserved.

15

2-(II) HR Media: Overseas Recruiting Overseas Recruiting Net sales (Indeed)

（JPY Bn） 50

+85.1%

 Strong net sales

• Net sales trended favorably reflecting smooth growth in service use by small and medium-sized clients.

40 30

46.1

20 10 0

24.9

FY2013 Full-year

FY2014 Full-year

(C) Recruit Holdings Co.,Ltd. All rights reserved.

16

2. FY2014 Earnings Results by Segments

(III) Staffing

(C) Recruit Holdings Co.,Ltd. All rights reserved.

17

2-(III) Staffing Net sales & EBITDA

 Net sales increased 10.2% YoY owing to brisk domestic and overseas staffing business  EBITDA increased 17.2% YoY due in part to progress in efficient management

Staffing Segment Net sales Staffing Segment EBITDA （JPY Bn） （JPY Bn） Total 800 50 EBITDA +10.2% ＋17.2% 700 675.2 612.4 40 600 Domestic Staffing 500 30 389.5 +8.6% *

400

358.6

300 200 100 0

253.8 FY2013 Full-year

285.6 FY2014 Full-year

Overseas Staffing +12.5%

20

34.7

40.7

10 0

2014年3⽉期 FY2013 3Q累計実績 Full-year

*Segment Net sales includes net sales and transfers between segments

(C) Recruit Holdings Co.,Ltd. All rights reserved.

2015年3⽉期 FY2014 3Q累計実績 Full-year 18

2-(III) Staffing: Domestic Staffing Domestic Staffing Net sales （JPY Bn） 450

+8.6%

400 350

• Net sales in Recruit Staffing trended strongly owing to enhanced sales force • Net sales in Staff Service trended favorably owing to the extension of existing staffing contracts and an increase in new staffing contracts.

250

150

• The number of active agency workers (quarterly average) maintained a rising trend for the sixth consecutive quarter.

 Strong net sales

300

200

 Solid market environment

358.6

389.5

100 50 0

FY2013 Full-year

FY2014 Full-year

(C) Recruit Holdings Co.,Ltd. All rights reserved.

19

2-(III) Staffing: Overseas Staffing Overseas Staffing Net sales （JPY Bn）

 Solid market environment

350 +12.5%

300

 Strong net sales

250 200 150 100

• The staffing market in North America and Europe continued to expand gradually.

253.8

285.6

• Positive impact from a weak yen. • Net sales trended favorably owing in part to solid earnings growth at Advantage Resourcing Europe B.V. (UK).

50 0

FY2013 Full-year

FY2014 Full-year

(C) Recruit Holdings Co.,Ltd. All rights reserved.

20

（Topics in Overseas Business）  Strengthened and expanded our global business infrastructure by acquiring and turning three companies into subsidiaries ・Acquisition of Australian staffing companies: Peoplebank and Chandler Macleod ・Acquisition of Atterro, a U.S. staffing company Peoplebank Established

： 2007

Chandler Macleod Established

Atterro

： 1959

Established

： 1982

Headquarters ： Australia

Headquarters ： Australia

Headquarters ： United States

Net sales

： $522million (AUD)

Net sales

： $1,413million (AUD)

Net sales

： $256million (USD)

EBITDA

： $14million (AUD)

EBITDA

： $38million (AUD)

EBITDA

： $10million (USD)

Employees

： Appx. 230

Employees

： Appx. 1,100

Employees

： Appx. 250

# of Locations ： 5 countries

# of Locations ： 7 countries

# of Locations ： 1 country

Business domain： IT & Engineering

Business domain： Diversified staffing

Business domain ： Diversified staffing

Acquisition cost ：

Acquisition cost ：

Acquisition cost ：

Acquisition price 68.6million（AUD）

Acquisition price 290.4millon（AUD）

Acquisition price 37.8million（USD）

Advisory fees and other related costs

Advisory fees and other related costs

Advisory fees and other related costs

¥0.4billion

¥0.6billion

¥0.28billion

Date of execution of share acquisition ： January 30, 2015

Date of execution of share acquisition ： April 16, 2015

Date of execution of share acquisition : May 22, 2015 (scheduled)

*Sales and EBITDA for each company is the actual for FY2014 (C) Recruit Holdings Co.,Ltd. All rights reserved.

21

（Topics in Other Business）  Strengthened our user base by acquiring new users and improving our cross user rate  Improved efficiency in attracting new customers in medium-to-long term

… Preparing for exams

Getting a part-time job

Changing careers

Getting married

Buying a car

… Shopping

Wining and Dining

Travelling

Hairdressing/ Getting pretty

Starting a hobby

Alliance with “Ponta” 79 companies/108 brands/about 23,400 shops* *As of May 1, 2015 (C) Recruit Holdings Co.,Ltd. All rights reserved.

22

３. FY2015 Full-year Forecast

3-(I) Consolidated Earnings Forecast

 Invest for medium-to-long term growth, while growing the EBITDA ・Organic growth in EBITDA is to reach 202.5 Bn yen, with 5.8% YoY increase

（Earnings of subsidiary which are newly consolidated from this FY2015, are deducted）

(JPY Bn)

FY2014

FY2015

（Ref.*4）FY2015 Full-year

YoY Change

Full-year

Full-year Forecast*3

Net sales

1,299.9

1,550.0

+19.2%

1,396.0

+7.4%

EBITDA*1

191.4

201.0

+5.0%

202.5

+5.8%

EBITDA Margin

14.7%

13.0%

-1.7pt

Operating income

122.4

112.0

-8.6%

Ordinary income

125.6

117.0

-6.9％

69.7

65.0

-6.7％

107.5

112.5

+4.6％

47

50

－

Net income attributable to owners of the parent Adjusted net income*2 Dividend per share（JPY）

Full-year Forecast*3

YoY Change

*1：EBITDA = Operating income + Depreciation and amortization + Amortization of goodwill *2：Adjusted net income = Net income attributable to owners of the parent + Amortization of goodwill *3：Assuming exchange rate: JPY119.00/USD（JPY105.79/USD for FY2014） *4：Estimated by deducting the earnings forecast of subsidiary which are newly consolidated from this FY2015

(C) Recruit Holdings Co.,Ltd. All rights reserved.

24

3-(II) Key Initiatives Be the No.1 in Global HR and Marketing Media Business by approx. 2030 “No.1 in the number of service users” Be the No.1 in Global HR Business by approx. 2020 “No.1 in the number of talent placements”

Sustainable growth in domestic business Enhance competitive advantage

Expand and enhance client/user base

New business development

Develop new growth area by leveraging IT technologies

Further growth in overseas business Enhance growth of existing business

Accelerate growth/ improve profitability by transferring our operating knowhow

(C) Recruit Holdings Co.,Ltd. All rights reserved.

M&A strategies Expand/enhance business foundation through M&A

25

Sustainable Growth in Domestic Business

(C) Recruit Holdings Co.,Ltd. All rights reserved.

26

3-(II) Key Initiatives Sustainable Growth in Domestic Business Be the No.1 in Global HR and Marketing Media Business by approx. 2030 “No.1 in the number of service users” Be the No.1 in Global HR Business by approx. 2020 “No.1 in the number of talent placements”

Sustainable growth in domestic business Enhance competitive advantage

Expand and enhance client/user base

New business development

Develop new growth area by leveraging IT technologies

Further growth in overseas business Enhance growth of existing business

Accelerate growth/ improve profitability by transferring our operating knowhow

(C) Recruit Holdings Co.,Ltd. All rights reserved.

M&A strategies Expand/enhance business foundation through M&A

27

（New Business Development） Create new values and new ideas, enhance industries and improve convenience of users by leveraging IT

１

Business support for small and medium size enterprise

２

Education related industry

３

Healthcare Industry

(C) Recruit Holdings Co.,Ltd. All rights reserved.

28

（Business Support for SMEs/World to Realize）  Reduce work load and improve productivity for companies, improve convenience and satisfaction for users  Linkage of 12 internal/external services Client

Air Series/affiliated services

User

Register function Acquiring Customers

 Improve Operational efficiency  Improve Productivity

Reservation Management

Oder Management

Purchasing

 Improve Convenience  Satisfaction

In-house communication

Settlement

Accounting

(C) Recruit Holdings Co.,Ltd. All rights reserved.

29

（Business Support for SMEs/Service）  Support various scenes from cash register to reservation and waiting B to B （Business Support）

Air series

 Accounting・Payment  Stock Management  Sales Analysis  Acquiring Users  Reservation Management

Rental Boat

ー

Register

Point Management

Reservation

 Order Management

Apparel Shop

B to C （User Convenience）

Order Liquor Store

Book Store

(C) Recruit Holdings Co.,Ltd. All rights reserved.

 Get the Points  Use the Points  Online reservation available 24 hours a day  Reduce the wasted time

Restaurant

Horse Riding

… 30

（Business Support for SMEs/Market Environment） Number of Domestic Companies and SMEs

Number of domestic companies

SMEs out of domestic companies※

5,422,918

5,367,699

（Private, non-primary industry)

*Source：「2015 White Paper on Small and Medium Enterprises in Japan」（The small and medium enterprise agency） ※Small and Medium-sized Enterprise Basic Act（Clause 1, Article 2）

(C) Recruit Holdings Co.,Ltd. All rights reserved.

31

（Business Support for SMEs/Air REGI）  Achieved 160,000 accounts in one and a half year after the launch of the service

160,000

Voices from our clients

 Able to grasp sales condition easily. Lead to reducing operation time and cost. （Restaurant）

 Able to grasp the wellsold-products easily. Lead to efficient purchasing. （Vintage clothing store）

 Time from payment of account to actual payment is very short, which is very helpful. （Jewelry shop） FY2013 Q3 2013年度3Q

FY2013 Q4 2013年度4Q

FY2014 Q1 2014年度1Q

FY2014 Q2 2014年度2Q

FY2014 Q3 2014年度3Q

FY2014 Q4 2014年度4Q

(C) Recruit Holdings Co.,Ltd. All rights reserved.

32

（Education/World to Realize）  Provide learning opportunity to all users, overcoming the income and regional disparity For High school students

For Elementary & Jr. High students

Service name : Juken Sapuli

Eliminating the Education Gaps

Service name : Benkyo Sapuli

Supporting School Education (C) Recruit Holdings Co.,Ltd. All rights reserved.

Supporting Learning at Home 33

（Education/Needs）  There are certain number of students that can not attend prep school from constraints of income and region The number of students Attending Prep School

What made them not to attend? Due to severe economic condition・ Expensiveness（Income disparity）

% of Students Attending Prep School % of students Not Attending Prep School

35%

49% 65% University Examinee

18% Due to lack of access to a good tutorial・prep school nearby（Regional disparity） *Source：「National Survey（July 2011）」（Recruit）（n=800）

Needs of inexpensive and high-quality online learning content (C) Recruit Holdings Co.,Ltd. All rights reserved.

34

（Education/Market Environment） Market size of Education Related Industry in Japan （Students） Number of Students (FY2014)

High School

3,334,019

Jr. High School

3,504,334

Elementary School

6,600,006

*Source：Estimated based on 「School Basic Survey」（Ministry of Education, Culture, Sports, Science and Technology）

（JPY Bn） Market size of Tutoring / Prep School (FY2013)

For High School Students

280

For Elementary & Jr. High School Students

656

Total 936 JPY Bn

*Source： Estimated based on 「Education Industry 2014」（Yano Research Institute）

(C) Recruit Holdings Co.,Ltd. All rights reserved.

35

（Education/Jyuken Suppli）  Number of paying members has grown up to 130,000 Unit : ʻ000 Paying Members

130

140 120 100

80

80 60 40

40

20 0 FY2013

FY2014 Number of Paying Members (C) Recruit Holdings Co.,Ltd. All rights reserved.

FY2015 （As of May 11h）

36

（Health Care/World to Realize）  We will contribute to realize a society that people can manage their health actively

Preventive medicine Appointment with doctor Treatments

etc

Encouraging health care, Resolving disparities in access to medical treatment and Improving convenience (C) Recruit Holdings Co.,Ltd. All rights reserved.

37

（Health Care/Market Environment） （JPY Bn）

Health check-up/Medical examination 114.6

Statutory medical check-up

Prenatal checkup, School physical examination etc.

Periodic medical check-up

Specific medical check-up

Resident medical check-up

114.0

258.9

222.0

470.0 Opportunistic screening

44.0

General medical examination

Specific medical examination

*Source： Estimated based on 「2012 Estimation data from “Market report of Medical examination and General medical examination（2011）」 (Yano Research Institute)

(C) Recruit Holdings Co.,Ltd. All rights reserved.

38

Further Growth in Overseas Business

(C) Recruit Holdings Co.,Ltd. All rights reserved.

39

3-(II) Key Initiatives Further Growth in Overseas Business Be the No.1 in Global HR and Marketing Media Business by approx. 2030 “No.1 in the number of service users” Be the No.1 in Global HR Business by approx. 2020 “No.1 in the number of talent placements”

Sustainable growth in domestic business Enhance competitive advantage

Expand and enhance client/user base

New business development

Develop new growth area by leveraging IT technologies

Further growth in overseas business Enhance growth of existing business

Accelerate growth/ improve profitability by transferring our operating knowhow

(C) Recruit Holdings Co.,Ltd. All rights reserved.

M&A strategies Expand/enhance business foundation through M&A

40

（Overseas M&A Basic Strategies） １

“2-Phase Approach” for Global Expansion Phase 1 ・Feasibility evaluation ・Small-size acquisitions / minority investments etc. Phase 2 ・Global expansion through acquisitions ・Maximizing value of acquired companies

2

Disciplined Investment Criteria ・Implementing appropriate hurdle rate when making investment decisions (C) Recruit Holdings Co.,Ltd. All rights reserved.

41

（Overseas M&A Track Record） Staffing

Phase 1

Acquired in 2010

HR Media

Marketing Media

Acquired in 2009

JV (Minority Investment) in 2012

Minority Investment in 2010 Acquired in 2013

Minority investment/ Feasibility evaluation

Acquired in 2013

Acquired in 2011

Phase 2 M&A / Global expansion

Acquired in 2011

Acquired in 2013

Minority Investment in 2014

Acquired in 2012 Acquired in 2014

Minority Investment in 2014 Acquired in 2015

Acquired in 2013

These subsidiaries will be newly consolidated from this FY2015. Acquired in 2015

(C) Recruit Holdings Co.,Ltd. All rights reserved.

42

（Know-how Transfer） ■We transfer globally our management know-how and business execution know-how cultivated in domestic operations １

 Profitability Management （Unit Management System）

Management Know-how

 Talent Management

（Respect for Individual Initiatives）

 Knowledge Management （Managerial Intelligence Sharing ）

２

 Sales & Marketing

Business Execution Know-how

（Sales Productivity Improvement ）

 New Customer Attraction （SEO/Cost Optimization）

 Repeat Customer Rate Enhancement （CRM/Cost Optimization）

(C) Recruit Holdings Co.,Ltd. All rights reserved.

43

Appendix

Company Profile

Company Name Capital Stock Exchange Registration Number of Shares Issued Number of Shareholders

： Recruit Holdings Co.,Ltd. ： 10 billion yen ： Tokyo Stock Exchange 1st Section（Stock Code：6098） ： 565,320,010 ： 69,446

Name of Major shareholders

Number of Shares

% of shares

Type of Shareholder

Dai Nippon Printing Co., Ltd.

37,700,000

6.67％

Financial Institutions

TOPPAN PRINTING CO., LTD.

37,700,000

6.67％

Securities Companies

The Recruit Group Employees Shareholding Association

31,407,260

5.56％

Other Companies

DENTSU INC.

30,000,000

5.31％

Foreign Institutions and Individuals

NTT DATA Corporation

20,500,000

3.63％

Individuals and Others

The Norinchukin Bank

12,500,000

2.21％

Treasury stock

Mizuho Bank, Ltd.

12,000,000

2.12％

Sumitomo Mitsui Banking Corporation

12,000,000

2.12％

The Bank of Tokyo-Mitsubishi ＵＦＪ, Ltd.

12,000,000

2.12％

The Dai-ichi Life Insurance Company, Limited

12,000,000

2.12％

MITSUI & CO., LTD.

12,000,000

2.12％

Number of Shares

% of shares

103,583,100

18.32％

6,725,441

1.19％

237,452,008

42.00％

72,891,197

12.89％

144,042,264

25.48％

626,000

0.11％

*As of March 31, 2015 (C) Recruit Holdings Co.,Ltd. All rights reserved.

45

Business Segments & Major Services Marketing Media

HR Media

Staffing

Life Event

Housing and Real Estate, Bridal, Automobiles, Education

Lifestyle

Travel, Dining, Beauty, other info

Other

(Overseas)

Domestic Recruiting

Job Advertising, HR Placement

Overseas Recruiting

Job Advertising

Other

Executive Search, HR Training

Domestic Staffing Overseas Staffing

（Domestic） （Overseas）

Other

(C) Recruit Holdings Co.,Ltd. All rights reserved.

46

Market Environment: Housing and Real Estate Business Number of new housing starts (# of houses) 400,000

140%

Number of new housing starts Change（％）

350,000

120%

300,000

94.6%

250,000

205,152 80%

200,000

60%

150,000

40%

100,000

20%

50,000 0

100%

Q1

Q2 Q3 FY2012

Q4

Q1

Q2 Q3 FY2013

Q4

Q1

Q2 Q3 FY2014

Q4

0%

*Source: MLIT housing start statistics (C) Recruit Holdings Co.,Ltd. All rights reserved.

47

Market Environment: Domestic Recruiting Operations Number of recruitment advertisements / Ratio of job-offers to job-seekers (Unit: 1,000)

(Unit: ratio) Number of recruitment advertisement

4,000

1.40

Ratio of job-offers to job-seekers

3,500

3,350

3,000

1.15

2,500

1.00 0.80

2,000

0.60

1,500

0.40

1,000

0.20

500 0

1.20

Q1

Q2 Q3 FY2012

Q4

Q1

Q2 Q3 FY2013

Q4

Q1

Q2 Q3 FY2014

Q4

0.00

*Source: Association of Job Information of Japan (Zenkyukyo), Ministry of Health, Labour and Welfare (C) Recruit Holdings Co.,Ltd. All rights reserved.

48

Market Environment: Domestic Staffing Operations Number of active agency workers (# of persons) Number of active agency workers（average）

400,000

105.8%

Change（％）

350,000

304,429

300,000

120% 100% 80%

250,000

60%

200,000 150,000

40%

100,000 20%

50,000 0

Q1

Q2 Q3 FY2012

Q4

Q1

Q2 Q3 FY2013

Q4

Q1

Q2 FY2014

Q3

0%

*Source: Japan Staffing Services Association (C) Recruit Holdings Co.,Ltd. All rights reserved.

49

Market Environment: Overseas Staffing Operations Real GDP Growth Trends (US & UK） （％） US Real GDP growth rate

3.5

3.0

UK Real GDP growth rate

3.0 2.5

2.4

2.0 1.5 1.0 0.5 0.0

Apr. - Jun Jul. - Sep. Oct.- Dec 2012

Jan. Mar.

Apr. - Jun Jul. - Sep. Oct.- Dec 2013

Jan. Mar.

Apr. - Jun Jul. - Sep. Oct.- Dec 2014

*Source: • U.S. Department of Commerce: National Income and Product Accounts Table 1.1.11. Real Gross Domestic Product: Percent Change From Quarter 1Year Ago • UK Office for National Statistics Gross Domestic Product: Quarter on quarter previous year (C) Recruit Holdings Co.,Ltd. All rights reserved.

50